Live Fish Price in Nigeria - 2022

Contents:

1. Live Fish Price in Nigeria (CIF) - 2022
2. Live Fish Price in Nigeria (FOB) - 2022
3. Live Fish Imports in Nigeria
4. Live Fish Exports in Nigeria

Live Fish Price in Nigeria (CIF) - 2022

In 2022, the average live fish import price amounted to $11,010 per ton, shrinking by -8% against the previous year. Overall, the import price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 173%. The import price peaked at $30,582 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Tanzania amounted to +356.5% per year.

Live Fish Price in Nigeria (FOB) - 2022

The average live fish export price stood at $47,630 per ton in 2022, jumping by 24% against the previous year. In general, the export price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 an increase of 49%. The export price peaked at $48,308 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($243,769 per ton), while the average price for exports to Turkey ($5,264 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Live Fish Imports in Nigeria

Live fish imports into Nigeria soared to 35 tons in 2022, with an increase of 370% compared with 2021. Over the period under review, imports recorded a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 9,821%. As a result, imports reached the peak of 80 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, live fish imports surged to $380K in 2022. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 2,616% against the previous year. As a result, imports reached the peak of $672K. From 2021 to 2022, the growth of imports remained at a lower figure.

Top Suppliers of Live Fish to Nigeria in 2022:

1. Sweden (33.1 tons)

Live Fish Exports in Nigeria

In 2022, live fish exports from Nigeria dropped rapidly to 23 tons, reducing by -42.2% against the previous year. Over the period under review, exports, however, enjoyed a noticeable expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 101%. As a result, the exports attained the peak of 40 tons, and then contracted notably in the following year.

In value terms, live fish exports contracted significantly to $1.1M in 2022. In general, exports, however, posted a temperate expansion. The pace of growth was the most pronounced in 2021 when exports increased by 128% against the previous year. As a result, the exports attained the peak of $1.5M, and then shrank dramatically in the following year.

Top Export Markets for Live Fish from Nigeria in 2022:

1. United States (8.4 tons)
2. United Kingdom (3.3 tons)
3. Netherlands (1.3 tons)
4. South Africa (1.3 tons)
5. China (0.8 tons)
6. Japan (0.7 tons)
7. Hong Kong SAR (0.7 tons)
8. Czech Republic (0.6 tons)
9. Poland (0.6 tons)
10. Turkey (0.5 tons)
11. Germany (0.5 tons)

Source: IndexBox Market Intelligence Platform